|Over a month ago|
Orchid Island Capital upgraded to Buy from Neutral at Ladenburg » 13:1110/3010/30/20
Ladenburg upgraded Orchid…
Ladenburg upgraded Orchid Island Capital to Buy from Neutral.
|Over a quarter ago|
Orchid Island Capital sees Q2 74c with items, consensus 20c » 18:0507/1507/15/20
Q2 EPS view includes 43c…
Q2 EPS view includes 43c per share of net realized and unrealized gains on RMBS and derivative instruments. Sees Q2 revenue, consensus $15.71M. estimated book value per share as of June 30, 2020 was $5.22. Estimates 15.8% total return on equity for Q2.
Orchid Island Capital estimates book value per share of $4.64 as of March-end » 18:1104/0804/08/20
Orchid Island Capital…
Orchid Island Capital estimates: GAAP net loss of $1.42 per share for the quarter ended March 31, 2020, including an estimated $1.66 per share of net realized and unrealized losses on RMBS and derivative instruments; (22.2)% total return on equity for the quarter; Book value per share as of April 7, 2020 of approximately $4.83 to $4.93; debt to equity leverage ratio as of April 7, 2020 of approximately 8.6x to 8.8x.
Orchid Island Capital cuts monthly dividend to 5.5c from 8c per share » 18:0904/0804/08/20
The dividend of $0.055…
The dividend of $0.055 per share will be paid May 27, 2020 to holders of record on April 30, 2020, with an ex-dividend date of April 29, 2020.
Orchid Island Capital says estimated book value per share of approx. $4.54-$4.58 » 09:3203/3003/30/20
Orchid Island Capital…
Orchid Island Capital announced updated details of its Agency RMBS portfolio, estimated book value and liquidity position as of March 27, 2020. All of the Company's assets are Agency RMBS, the principal and interest of which are guaranteed by the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation or the Government National Mortgage Association and are backed primarily by single-family residential mortgage loans. As a result of the economic, health and market turmoil brought about by the global coronavirus pandemic, the Agency RMBS market has experienced severe dislocations. As a result of falling prices of the Company's assets and resulting margin calls from the Company's repurchase agreement lenders, the Company was forced to sell assets in order to conserve its available cash and liquidity. Through Friday, March 27, 2020, the Company had timely met all margin calls received. During the first quarter of 2020 through March 27, 2020, the Company sold Agency RMBS assets for approximately $1.15 billion, recording realized losses of approximately $30.0 million. As a result of these sales, the Company's Agency RMBS portfolio had a fair market value of approximately $2.94 billion as of March 27, 2020. This represents an approximate 18% decline from December 31, 2019, when the Company's Agency RMBS portfolio had a fair market value of approximately $3.59 billion. The Company estimated that its current book value per share is approximately $4.54 to $4.58 per share as of March 27, 2020. This represents a decline of approximately 27% - 28% since December 31, 2019. Finally, the Company had cash of approximately $117.1 million and unencumbered assets of approximately $13.8 million as of March 27, 2020. The combined balance of cash and unencumbered securities of $130.9 million equals approximately 2.8 times the dollar amount of prepayments on the Company's portfolio announced on March 4, 2020 and received in March 2020. As stated, the Company sold assets in order to conserve its available cash and liquidity during the month of March and as a result the dollar amount of securities subject to potential prepayments in April of 2020 will be lower than the corresponding amount in March. On Friday, March 27, 2020, the Company paid the $0.08 per share dividend declared on February 12, 2020. The dividend was paid entirely with cash. The Company intends to pay the $0.08 per share dividend declared on March 18, 2020 to holders of record on March 31, 2020 on April 28, 2020. The Company intends to make regular monthly cash distributions to its holders of common stock. In order to qualify as a real estate investment trust, the Company must distribute annually to its stockholders an amount at least equal to 90% of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain. The Company will be subject to income tax on taxable income that is not distributed and to an excise tax to the extent that a certain percentage of its taxable income is not distributed by specified dates. The Company has not established a minimum distribution payment level and is not assured of its ability to make distributions to stockholders in the future. The Company's Board of Directors intends to reevaluate the dividend level at its next meeting on April 8, 2020. The estimated book value and other estimated figures in this press release are preliminary, subject to change, and have not been audited or verified by any third party. The Company used an independent third party pricing source - Pricing Direct - for the valuations of the Company's assets and hedges as of March 27, 2020. The Company's estimated book value at March 27, 2020 may be materially different from its actual book value as of March 27, 2020 and March 31, 2020. The other estimated figures in this press release also may be materially different from the actual figures as of March 27, 2020 and March 31, 2020. The Company undertakes
Orchid Island Capital CFO Hunter Haas purchased 25K shares of company stock » 15:3803/1603/16/20
Orchid Island Capital CFO…
Orchid Island Capital CFO Hunter Haas disclosed in a filing that he had purchased 25,000 shares of company stock at an average price of $3.80 per share on March 16. The total transaction value of the purchase was $95,025.
Orchid Island Capital trading resumes 10:0703/1203/12/20
Orchid Island Capital trading halted, volatility trading pause 10:0203/1203/12/20
Orchid Island Capital reports Q4 EPS 29c, two estimates 19c » 16:4702/2002/20/20
Reports Q4 book value per…
Reports Q4 book value per share $6.27.
Orchid Island Capital launches preferred stock offering » 17:0002/1102/11/20
Orchid Island Capital…
Orchid Island Capital announced that it has launched an underwritten public offering of its new Series A Cumulative Redeemable Preferred Stock, with a liquidation preference equivalent to $25.00 per share, subject to market conditions. The terms of the Series A Preferred Stock are to be determined by negotiations between the company and the underwriters. The company intends to list the Series A Preferred Stock on the New York Stock Exchange under the symbol "ORC PR A." The company intends to use the net proceeds of this offering to invest in a targeted mix of Agency RMBS and for general corporate purposes. The company then expects to borrow against the Agency RMBS that it purchases with the net proceeds of this offering through repurchase agreements and use the proceeds of the borrowings to acquire additional Agency RMBS. Ladenburg Thalmann, a subsidiary of Ladenburg Thalmann Financial Services, Janney Montgomery Scott and MUFG are acting as joint book-running managers for this offering. JonesTrading, National Securities Corporation, a wholly owned subsidiary of National Holdings Corporation, and William Blair & Company are acting as co-managers.